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Canada May face a Recession the USA Not!

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    Canada May face a Recession the USA Not!

    Canada may enter a recession, while the US flourishes. Canada’s economy may soon endure something it hasn’t faced in 68 years: A recession without the US in the same boat. That’s the view of Jim Mylonas, global macro strategist at BCA Research Inc. in Montreal, a firm that’s been making calls on markets and economies since 1949. Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession, even while the US economy continues to grow.

    Well I said that all along the Trudeau plan is a disaster and will destroy Canada. Then the fool will leave for a UN job and us canadians will have to repay his idiotic ways.

    God bless America it’s got its shit together.

    #2
    Originally posted by SASKFARMER3 View Post
    Canada may enter a recession, while the US flourishes. Canada’s economy may soon endure something it hasn’t faced in 68 years: A recession without the US in the same boat. That’s the view of Jim Mylonas, global macro strategist at BCA Research Inc. in Montreal, a firm that’s been making calls on markets and economies since 1949. Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession, even while the US economy continues to grow.

    Well I said that all along the Trudeau plan is a disaster and will destroy Canada. Then the fool will leave for a UN job and us canadians will have to repay his idiotic ways.

    God bless America it’s got its shit together.

    For **** sakes ,,,,Trudeau single handedly basically stopped exports from Canada....Oil, Pulses, Wheat etc...


    Meanwhile while Alberta adopts the OPEC style fix to its crisis....we are paying at the pumps like stupid...why because there is 30 cents a liter in taxes....and more coming....


    Notley said in a press conference their were essentially giving their oil away and yet gas was at a 1.20 a liter.....Not one politician spoke up for the consumer....

    Recession...we are already there.

    Usually when things become useless they are worth less.....Trudeau is trying to make fuel useless and he is actually increasing the price...
    Last edited by bucket; Jan 23, 2019, 06:52.

    Comment


      #3
      Originally posted by SASKFARMER3 View Post
      Canada may enter a recession, while the US flourishes. Canada’s economy may soon endure something it hasn’t faced in 68 years: A recession without the US in the same boat. That’s the view of Jim Mylonas, global macro strategist at BCA Research Inc. in Montreal, a firm that’s been making calls on markets and economies since 1949. Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession, even while the US economy continues to grow.

      Well I said that all along the Trudeau plan is a disaster and will destroy Canada. Then the fool will leave for a UN job and us canadians will have to repay his idiotic ways.

      God bless America it’s got its shit together.
      Hahahahah. IN the USA

      The federal deficit soared last year to $779 billion and is projected to approach $1 trillion in 2019.

      Interest on U.S. debt is projected to total $7 trillion over the next decade and, by 2026, will become the third largest category of the federal budget, according to the Peter G. Peterson Foundation, a nonpartisan organization dedicated to addressing the country’s long-term fiscal challenges.

      To pay for years of deficits, the federal government must borrow money. Roughly half of the U.S. debt is held by foreign countries, such as China, Japan and Saudi Arabia. China alone holds more than $1 trillion in U.S. debt.

      At the end of FY 2019 the total government debt in the United States, including federal, state, and local, is expected to be $25.86 trillion.

      SF3 you missed the cause of a possible Canadian recession in your post:
      "Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession"

      Many Canadians are living beyond their means. Farmers have over $100 billion dollars in debt. It was farmers and consumers who made their own decisions to over borrow when interest rates were low.

      Comment


        #4
        Originally posted by chuckChuck View Post
        Hahahahah. IN the USA

        The federal deficit soared last year to $779 billion and is projected to approach $1 trillion in 2019.

        Interest on U.S. debt is projected to total $7 trillion over the next decade and, by 2026, will become the third largest category of the federal budget, according to the Peter G. Peterson Foundation, a nonpartisan organization dedicated to addressing the country’s long-term fiscal challenges.

        To pay for years of deficits, the federal government must borrow money. Roughly half of the U.S. debt is held by foreign countries, such as China, Japan and Saudi Arabia. China alone holds more than $1 trillion in U.S. debt.

        At the end of FY 2019 the total government debt in the United States, including federal, state, and local, is expected to be $25.86 trillion.

        SF3 you missed the cause of a possible Canadian recession in your post:
        "Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession"

        Many Canadians are living beyond their means. Farmers have over $100 billion dollars in debt. It was farmers and consumers who made their own decisions to over borrow when interest rates were low.

        While I agree with what you have said eventually a guy either buys a different machine or repairs ....either way the prices are not set by farmers.....

        Repair is at 150 an hour...a 150 hp MFWD is over 200,000 but even a good used one is expensive....the other option is to what , use horses...


        Neither of my MWFD are over 4500 hours but are considered old and get about 125 hours a year....they are nickel and dimeing me now...

        Comment


          #5
          Originally posted by chuckChuck View Post
          Hahahahah. IN the USA

          The federal deficit soared last year to $779 billion and is projected to approach $1 trillion in 2019.

          Interest on U.S. debt is projected to total $7 trillion over the next decade and, by 2026, will become the third largest category of the federal budget, according to the Peter G. Peterson Foundation, a nonpartisan organization dedicated to addressing the country’s long-term fiscal challenges.

          To pay for years of deficits, the federal government must borrow money. Roughly half of the U.S. debt is held by foreign countries, such as China, Japan and Saudi Arabia. China alone holds more than $1 trillion in U.S. debt.

          At the end of FY 2019 the total government debt in the United States, including federal, state, and local, is expected to be $25.86 trillion.

          SF3 you missed the cause of a possible Canadian recession in your post:
          "Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession"

          Many Canadians are living beyond their means. Farmers have over $100 billion dollars in debt. It was farmers and consumers who made their own decisions to over borrow when interest rates were low.
          Let's be realistic Chuck in both countries the federal government's are running deficits at a time of low unemployment. The difference is two fold in my opinion, first in Canada Trudeau is adding regulation and taxes which slow business investment and Trump is doing the opposite. As well in Canada our personal debt to income ratio is much higher at something like 174% and the U.S. is closer to 100% I believe. I am certainly not a Trump fan but he is smart enough to see the threat China poses the rest of the world economically!

          Comment


            #6
            Yeah chuck maybe somebody should explain the difference in capital spending vs consumer spending. There is a huge difference. $100b farm debt is not equal to $100b consumer debt or even govt debt or even mortgage debt. You must be an NDP disciple.

            Comment


              #7
              Originally posted by jazz View Post
              Yeah chuck maybe somebody should explain the difference in capital spending vs consumer spending. There is a huge difference. $100b farm debt is not equal to $100b consumer debt or even govt debt or even mortgage debt. You must be an NDP disciple.
              Most of Canadian consumer debts are mortgages. Whether you buy too big a house, or too much expensive land and/or machinery, when interest rates rise and you cant make your payments guess what happens?

              Farmers are overspending on inputs, machinery and land and then wondering why they can't make a profit? It is always someone else's fault. Start with blaming the politicians! LOL

              Comment


                #8
                Originally posted by bucket View Post
                For **** sakes ,,,,Trudeau single handedly basically stopped exports from Canada....Oil, Pulses, Wheat etc...
                On what basis are you making the claim that Trudeau has stopped exports? Here are the actual export numbers for the products you say he has stopped exports of.
                Canadian oil exports over time
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                Nor has he stopped oil production Canada oil production over time
                Click image for larger version

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                And you have to go back to 1991 for a year with higher wheat exports than last year. Trudeau does not set world price and farmers in Canada are continuing to grow and export at ever higher levels in spite of prices.
                Sorry can not post chart for wheat, but this link shows it https://www.indexmundi.com/agriculture/?country=ca&commodity=wheat&graph=exports https://www.indexmundi.com/agriculture/?country=ca&commodity=wheat&graph=exports
                As far as pulses go, India increased pulse tariffs before Trudeaus debacle trip. Second, the tariffs India set apply to all countries and not just Canada. Third, the tariffs were not set to punish global producer of pulses but to increase domestic prices in India. So to blame Trudeau for India domestic policy is wrong.

                I am not a fan of Trudeau and do not think he is a good prime minister, but I am an even bigger critic of alternative facts and propaganda. So unless you can back up your claims with some facts I call BS.

                Comment


                  #9
                  Originally posted by SASKFARMER3 View Post
                  Canada may enter a recession, while the US flourishes. Canada’s economy may soon endure something it hasn’t faced in 68 years: A recession without the US in the same boat. That’s the view of Jim Mylonas, global macro strategist at BCA Research Inc. in Montreal, a firm that’s been making calls on markets and economies since 1949. Mylonas says the surge in household debt combined with rising interest rates will push the Canadian economy into recession, even while the US economy continues to grow.

                  Well I said that all along the Trudeau plan is a disaster and will destroy Canada. Then the fool will leave for a UN job and us canadians will have to repay his idiotic ways.

                  God bless America it’s got its shit together.

                  What are you talking about? With the US 1.2 trillion US debt for 2018 and a 21 trillion total debt and the Trump tax cut to the billionaires and giant corporations.

                  God bless America. You have got that right. You must be calling for divine intervention and that is what it will take. Well someone has to help them out

                  Yes the Trump cut taxes to the billionaires and giant corporations. What happened to Trumps promised tax cuts to the middle class that never happened. It is funny how that works. Trump is putting the middle class into poverty

                  To pay for his tax cuts Trump attempted to end Obamacare and John McCain cast the deciding vote to stop that nonsense.

                  It is recently reported that teachers in the US have to live on food stamps. As you say "god bless America".

                  look at the debt clock
                  http://www.usdebtclock.org/
                  Last edited by Integrity_Farmer; Jan 24, 2019, 02:33.

                  Comment


                    #10
                    Originally posted by chuckChuck View Post
                    Most of Canadian consumer debts are mortgages. Whether you buy too big a house, or too much expensive land and/or machinery, when interest rates rise and you cant make your payments guess what happens?

                    Man explaining capitalism to a socialist is like pulling your own teeth. What productive capacity does a home have? Answer none, its a liability. Now what does a piece of machinery or land do or fertilizer, right it produces something. The factors of production are NOT equivalent debt to mortgages, govt debt or consumer purchases.

                    Land equipment inputs are investments, not frivolous purchases. Hence they favorable taxation. You can argue that an investment doesn't work out for whatever reason but don't compare growing a crop to buying a boat or something.

                    Comment


                      #11
                      Comparing US debt to Canadian debt is like the old joke about the farmer and the bank, if I owe the bank $1,000,000 and I can't pay, I have a problem, If my neighbor owes the bank $10,000,000, and can't pay, the bank has a problem( Or add appropriate zeroes to make it relevant). The US can sustain what appears to be impossible debt levels far longer than anyone else.
                      1. 1 They have the worlds reserve currency, with no other contenders remotely close
                      2. 2 The US consumer is still the only market in the world, three times bigger than the next(China), every manufacturing or exporting country needs the US consumer far more than they need them.
                      3. 3 They have the only Military in the world capable of enforcing the peace (or enforcing whatever else they may desire to use it for)
                      4. 4 As per my example above, just the size of the debt, If the US decides to default on debt to China(for example), China has a problem, not the US.


                      Until every other economy in the world goes down in flames, the US can sustain these unsustainable debt and spending levels.
                      Last edited by AlbertaFarmer5; Jan 23, 2019, 10:36.

                      Comment


                        #12
                        Originally posted by AlbertaFarmer5 View Post
                        Comparing US debt to Canadian debt

                        Not to mention, the US govt assets total at least $100 trillion. They could pay the debt off tomorrow if they wanted to.

                        Comment


                          #13
                          I just spent some time in USA airports actually lots of time waiting for planes. So in eight hours in one airport I did some visiting with a few USA folk. A young family from California that owned a greenhouse, a young black fellow from Chicago that worked on wind turbines, two guys from Maine that installed ventilation equipment in barns, a redneck welding inspector from Alabama, and four old retired farts from Arizona California Texas and Montana. I told them where I was from and where the best place to live would be if I were to move to the USA most of them lived in several different places over the years as they were in the armed forces or were kids of enlisted parents. Stay away from the Mexican US border and California was the most common answer the windmill tech said they have security detail when working on wind farms near the border in Texas and Arizona he said it was safer in Chicago which was a shit hole and he is ready to move to a different state. The young couple from California which own a fourth generation rose farm said crime is really bad there you stay locked in your home at night. I asked about racism in the USA Most of them laughed and said to watch a different newscast. Not one of them admitted voting for Trump but all of them said he was on the right track and the people that had lived near the border or in California said they needed a wall their years ago. Montana or Alaska is where most of them would move to if they could.

                          Comment


                            #14
                            Originally posted by jazz View Post
                            Man explaining capitalism to a socialist is like pulling your own teeth. What productive capacity does a home have? Answer none, its a liability. Now what does a piece of machinery or land do or fertilizer, right it produces something. The factors of production are NOT equivalent debt to mortgages, govt debt or consumer purchases.

                            Land equipment inputs are investments, not frivolous purchases. Hence they favorable taxation. You can argue that an investment doesn't work out for whatever reason but don't compare growing a crop to buying a boat or something.
                            So everything farmers buy is a good investment and pays for itself? Hahaha. Some farms trade equipment every year. There are a lot of $170000 high speed discs and $70,000 diesel pickups sitting on farms. Do they pay for themselves?

                            Yes much of what a farm needs is an investment. But just ask the machinery dealers what happens when interest rates go up? Farmers stop spending as much and Economic activity drops.

                            Comment


                              #15
                              Originally posted by jazz View Post
                              Not to mention, the US govt assets total at least $100 trillion. They could pay the debt off tomorrow if they wanted to.
                              That all depends on how you define US government assets. Those valuing assets at over $100 trillion are adding in all oil reserves, all land, buildings etc. Sure would be tough on companies with interests in an oilfield if the government suddenly sold off that field to pay down government debt. Sort of like a farmer having to sell his land to pay his debt. Second, who has the dollars to buy the assets. The Saudi? Russia? Maybe they should just sell Alaska including all oilfields back to Russia for the $21 trillion owed. Sure would make the US balance sheet look good and would be a nice return on the purchase of Alaska but rather disconcerting for Alaskans and every oil company with interests there. And to say nothing of the loss of future income to the US from not having Alaska as a state or the added military cost if they lost Alaska for its strategic position in the world.

                              Sure they could sell just the liquid assets the US holds, but they only amount to about 2 trillion and 49% percent of those are in the form of student loans to the US government. I wonder what the security is on student loans and how the US public would feel if the Chinese suddenly owned all student debt. Sure might make it easier for China to acquire US technology in the future.

                              Comment

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